Asset Tag Detail

Inventory Control Menu -> Inventory Inquiry -> Asset Tag Search -> DETAILS button -> Asset Tag Detail (Lookup mode only)

Utilities Menu -> Inventory Control -> Rates/Costs/Prices -> Update Product Costs & Prices -> Rental Products -> SN# window -> Asset Tag Detail

The detailed Asset Tag fields include:

FIXED ASSET TAG #

The selected Tag number displays.

If the item is bulk, all the tags for this product are listed and one can be selected from Asset Tag Search.

STATUS

Status reflects the current situation of an item. When setting up equipment, the status should be set to A for Active. Valid status codes as listed in the drop-down list include:

                A - Active  (Ready to rent, or On Rent)
                D - Disposed (sold)
                M - Missing (stolen, borrowed)
                R - Repair Shop (in Repair Shop for the long term)
                S - Scrapped (this item has been scrapped)
        

Note: When the status of a Non-Bulk product is changed from/to Active, the description key (RSPFK4) is changed during the next Daily Close 2.
e.g. If status is no longer Active the product is removed from this lookup product list, and if status is changed to Active, the product is added into the lookup file.

DIVISION

This division is the owning division on the Tag and is used for depreciation and inventory value reporting.

This "Owning Division' can be updated when equipment is moved from one location to another using by the Permanent Transfers feature in Inventory Transfers.
The Division can also be changed in Update Asset Tags, or from a data import from the Restructure Class/Group/Rates/Tag, or the Asset Tag Import utility.

SERIAL #

Enter the serial number for this rental item. Use up to 20 characters.
This is really only relevant to non-bulk equipment or when the Tag is for a single unit.
The serial number is mandatory on a non-bulk rental product for SmartEquip exports and can be updated by an import from the SmartEquip Compliance utility.

The serial number can also be used by the Trackunit vendors TRI and TRK for AEMP Telematic imports to match the asset with the data on the import file, instead of using the Telematic ID assigned in the Rental Information window.
Tags that have a "Status" of 'S' for Scrapped or 'D' for Disposed are not matched by the Import AEMP Telematics process.
Refer to AEMP Telematics for configuration details.

Duplicate Serial Number Alert:
When a serial number is entered or updated on the Asset Tag of a Rental Inventory record, the Duplicate Serial Numbers warning is triggered if the serial number being assigned to the Tag matches the serial number on an existing Asset Tag or matches a serial number on a Serialized Sales Product.
This alert to the operator is helpful to prevent a new equipment record from being created when it already exists or when a Transfer Sales to Rental should be processed instead of creating a new product.

The serial number for rental equipment is included in some inventory reports including:

• Inventory Report with License/Serial#
• Rental Products By Serial #
• Non-Bulk Inventory Location Report
• Rental Inventory Value Report
• Book Value Report
• Product#/Serial# Cross Ref List
• Warehouse Receiving
• Depreciation Report
• Allocate Bulk Disposals
• Disposal Transactions Report
• New Acquisitions Report
• Inventory Search
• License Plate Expiry Report
• Inventory Inquiry
• Count Tag Details
• Inventory Count Console
• Print Contract detail line 2 if feature activated in Divisional Contract Parameters
• Print Invoice, Reservation, and Quotation detail line 2 if feature activated in Divisional Invoice Parameters

Note: The Received Non-Bulk Serial# File can be used to identify non-bulk items with no serial number assigned, and Find Rental Inventory By Serial# can be used to review serial numbers for bulk and non-bulk Rental products.

DATE ACQUIRED

Enter the date when the items for this Fixed Asset Tag were purchased.
The Date can also be changed in Update Asset Tags, or from the Asset Tag Import utility.

Note: This date is mandatory for non-bulk rental equipment when the Rouse feature is active in the in the Software Integration.

WARRANTY EXPIRY

The default expiration date is based on the "Date Acquired" plus the "Number of Days of Warranty" defined for this product's group in Equipment Groups. This expiry date can be over-typed as required.
If the warrant has not expired, the warranty expiry date is displayed in the Warranty Expiry Information window when a non-bulk rental asset is put on a Work Order to alert the operator of the warranty term.
If the warranty has not yet expired, the Warranty in Affect Alert is triggered when the W.O. header for a non-bulk rental is completed. The expiry message can be customized by division in the Divisional Work Order Parameters.
If there is no 'Warrant Expiry' date on the Tag then no warning is triggered in the Work Order.

An expiry date listing can be generated from Warranty Expiry Report.

WARRANTY DEPOT

Enter the warranty depot name. This is an information field only and defaults from the product group when a new product is added.

WARRANTY TYPE CODES

This field only applies to non-bulk rental equipment.

Warranty comments can be printed on the Work Orders for non-bulk rental equipment.
Window to assign multiple Warranty Type Codes to the product, as outlined in Warranty Type Codes and Expiry.

DISPOSAL REASON

This field only applies to non-bulk rental equipment and tracks the reason for selling or disposing of a rental product defined when the product was sold on an invoice, as outlined in Disposal Reason Codes.

This field is disabled for bulk rentals.

DATE LAST DISPOSAL

This date is updated automatically when an item from this Fixed Asset Tag was last sold.

DATE LAST TRANSFER

This date is updated automatically when an item from this Fixed Asset Tag was last transferred to an External Branch or to a Sales item.

ORIGINAL QUANTITY

This is the total quantity for this fixed asset tag, prior to any sales or transfers.
This quantity cannot exceed the sum of the quantity assigned to the Locations.

Note: Each Serialized item should have its own fixed asset tag to record a unique serial number.

QUANTITY SOLD

When a rental item is sold, the quantity sold will automatically be updated.

QUANTITY TRANSFERRED

When the rental item is transferred to an external division (an independent company), this field will automatically be updated.
This value also reflects any quantities transferred from rental to sales items.

QUANTITY ON HAND

The current quantity on hand for this tag is displayed.
Current On Hand = Original Quantity - Quantity Sold - Quantity Transferred

Note: The Verify Tag Qty = Loc Qty utility can be run to identify rental products where the quantity On Hand does not match the total quantity on the Fixed Tags.

HISTORIC UNIT COST

This value represents the cost of purchasing a single unit new.
It is information only but is useful for data analysis reporting.

This cost is populated when a new tag is created with quantity and cost.
This cost is not re-calculated if the Total Original Cost is changed in case this has been entered manually.

If this cost is updated manually or updated by the Restructure Class/Group/Rates/Tag utility using the Tag Cost Restructure option, a record is written to the Audit Log for "RSRI_HISTORIC_UNIT_COST", with date, operator, product, tag and field values.

TOTAL ORIGINAL COST

This is the value of the Original Quantity.
Total Original Cost = Average Cost Each * Quantity on this Tag

Whenever the average cost for a product is changed use Post Product Average Cost Changes to print an audit report and to generate the G/L postings for the change in the Inventory value.

Note: If the Original Cost is left blank or zero, when an addition is reported the value of the first addition becomes the Original Cost and any subsequent additions will be reflected in the Accumulated Additions.

The Original Cost can also be changed in Update Asset Tags, or from the Asset Tag Import utility.

ACCUMULATED ADDITIONS

Accumulated Additions can include any freight, brokerage, duty, exchange or other items which add to the original purchase cost of the items.
This field will be updated when entering invoices for inventory purchases in Accounts Payable.

A window is provided to view the Accumulated Additions details.

ACCUMULATED DISPOSALS

The Accumulated Disposals are automatically updated whenever an item for this Fixed Asset Tag is sold.

If the rental item is Non-bulk, the Fixed Asset Tag will be automatically updated during the Daily Close program.
If the item sold is a Bulk rental, the Daily Close procedure will update this field once the user has selected the Fixed Asset Tag for posting the costs to the General Ledger, using Allocate Bulk Disposals.

ACCUMULATED TRANSFERS

Accumulated Transfers are automatically updated whenever an item with this Fixed Asset Tag is transferred to an external branch (a division or store that is not maintained in this software) or to a sales product.

NET ORIGINAL COST

The Net Original Cost is automatically calculated.
Net Original Cost = Total Original Cost + Accumulated Additions - Accumulated Disposals - Accumulated Transfers.

Depreciation Configuration Values:

ACCUMULATED DEPRECIATION

The total Accumulated Depreciation for this Fixed Asset tag is displayed.
The Accumulated Depreciation can also be changed in Update Asset Tags, or from the Asset Tag Import utility.

Total Accumulated Depreciation = Accumulated Depreciation Each * Quantity on this Tag

Depreciation History Window:
A window is provided to view the Depreciation history details by date that were created when Depreciation was run and accepted.
The Accumulated Depreciation history information includes:

        DATE            - date used to calculate the depreciation
        AMOUNT          - amount of depreciation calculated for this tag on this run
        BASE            - tag value amount on which the depreciation was calculated
        CLASS           - the depreciation class assigned at the time of the run
        METHOD          - the depreciation method assigned at the time of the run
        CLERK           - operator ID signed in when the depreciation was run
        DATE RUN        - system date when depreciation was run
        SOURCE          - auto (system generated), manual, computer (depreciation calculation), adjust (imported change)

Note: These history records are available only to explain how the depreciation was calculated, but are not used as the basis for further depreciation calculations.

TOTAL BOOK VALUE

The Total Book Value is automatically calculated.
Total Book Value = Net Original Cost - Accumulated Depreciation

DEPRECIATION CLASS

The Depreciation Class assigned to this tag displays.
This value defaults from the Group when a new tag is created.
Valid classes can be selected from the drop-down list.
This class will be used to determine how depreciation should be calculated on this tag when the Depreciation is run.

The Depreciation Class on the tag can be updated by the Update Depreciation Class by Group utility, or by the Update Asset Tags, or from the Asset Tag Import utility.

DEPRECIATION AMOUNT PER UNIT

If a Flat Rate depreciation class, as setup in Depreciation Classes, was entered in the Depreciation Class field for the tag, enter the Depreciation Amount Per Unit.
The amount entered times the quantity on the tag is the Depreciation amount charged. The Residual percent still applies.

ACCUMULATED # OF DEPRECIATIONS

The accumulated number of times this tag has been depreciated is automatically updated when Depreciation is run and accepted.

YTD # DEPRECIATION

The Year to Date number of times this item has been depreciated is automatically updated when Depreciation is run and accepted.

YTD DEPRECIATION

The Year to Date amount of depreciation is automatically updated when Depreciation is run and accepted.

Note: If the Depreciation Method is changed on a Depreciation Class, the 'YTD Number of Depreciations' and the 'YTD Depreciation Dollars' on all Asset Tags assigned that Depreciation Class for 'Standard' or 'Alternate' depreciation, are re-set to ZERO, so that the calculations for the new Method are not skewed by the calculations from the old Method.
Accumulated Depreciation History on the tag is not changed.
A record is written to the Audit Log for the category of 'CLASS DEPRECIATION METHOD' recording what was changed.

AVERAGE COST

This is the Average Cost per unit and is adjust automatically if the Original Cost is changed.
Average Cost each = Net Original Cost divided by Current On Hand Quantity

AVERAGE BOOK VALUE

This is the Average Book Value per unit and is adjust automatically if the Book Value is changed.
Average Book Value each = Total Book Value divided by Current On Hand Quantity

ALTERNATE BOOK VALUE

An alternative Book Value for each Fixed Asset Tag may be tracked using an alternate Depreciation Method.
This may be necessary for tax or management purposes.
Refer to Calculate Alternate Depreciation for further details.

A window is provided to view this parallel value and depreciation information.
The data fields are the same as for the standard Book Value fields as follows:

Fixed Asset Tag - window on Alternative Book Value

TOTAL ORIGINAL COST

Accept the Total Original Cost is displayed, calculated as AVERAGE COST EACH *QUANTITY (on this Fixed Asset Tag), or type in the correct cost.

ACCUMULATED ADDITIONS

Leave this field blank as Accumulated Additions will be automatically updated by any freight, brokerage, duty, exchange or other items which add to the original purchase cost of the items.
This field will be updated when entering invoices for inventory purchases in Accounts Payable.

ACCUMULATED DISPOSALS

Leave this field blank as Accumulated Disposals will be automatically updated whenever this item is sold.

ACCUMULATED TRANSFERS

Leave this field blank as Accumulated Transfers will be automatically updated whenever this item transferred to an external branch or transferred to a sales product.

NET ORIGINAL COST

The Net Original Cost is automatically calculated and displayed.
Net Original Cost = Total Original Cost + Accum Additions - Accum Disposals - Accum Transfers.

ACCUMULATED DEPRECIATION

Enter the total accumulated depreciation for this Fixed Asset tag.
Total Accumulated Depreciation is equal to Accumulated Depreciation Each multiplied by the quantity on this Fixed Asset Tag.

Depreciation History:
A window is provided to view the Depreciation History.
The depreciation history is created when Alternative Depreciation is run. The history shows how the software calculated the depreciation and is not used as the basis for further depreciation calculations.
The fields in this window include:

DEPRECIATION DATE   - date used to calculate the depreciation
DEPRECIATION AMT    - amount of depreciation for this run
DEPRECIATION BASE   - amount the depreciation was calculated on
CLASS               - the depreciation class assigned
MTHD                - the depreciation method assigned
CLERK               - operator ID who ran the depreciation
DATE RAN            - system date when depreciation was run
SOURCE       - COMPUTER = generated from Calculate Depreciation
             - MANUAL   = manually added using Review Alternate Depreciation Calculations
             - AUTO     = system calculated (such as % of rental)
             - REC-ADD  = initially recorded when rental item added in Add Rental Products
             - CONVERSN = updated from Data Import or Asset Tag Revaluation Tool

TOTAL BOOK VALUE

The Total Alternative Book Value will be automatically calculated and displayed.
Total Book Value = Net Original Cost - Accum. Depreciation.

DEPRECIATION CLASS

Assign this item to an alternative depreciation class or select one from the drop-down box as setup in Depreciation Classes.
This value defaults from the Group when a new tag is created.
This class will be used to determine how depreciation should be calculated on this tag when the Alternate Depreciation is run.

This Alternate Depreciation Class on the tag can be updated by the Update Depreciation Class by Group utility.

Note: A Depreciation Class with the 'Post Percentage of Rental Revenue Method' assigned to it can not be selected, since this method is not available with the Alternate Depreciation process.

ACCUM # OF DEPRECIATION

Leave this field blank as the accumulated number of times this tag has been depreciated will be automatically updated when Alternate Depreciation is run.

YTD # DEPRECIATION

Leave this field blank as the year to date number of times this item has been depreciated will automatically be updated when Alternate Depreciation is run.

YTD DEPRECIATION

Leave this field blank as the year to date depreciation amount will be updated when Alternate Depreciation is run.

AVERAGE COST

The alternative average cost of the items on this tag is calculated from
Average Cost = Net Original Cost ÷ Current Qty On Hand

AVERAGE BOOK VALUE

The alternative Average Book Value of the items on this tag is calculated from
Average Book Value = Total Book Value ÷ Current Qty On Hand

Finished?

Click OK to accept the values and close the window.

Refer to Alternate Depreciation for details.

Finished?

Click ACCEPT button to accept the Fixed Asset Tag information.

Cost Adjustment:

If any change was made to the tag that alters the cost total, an adjustment must also be posted to the G/L.
A Cost Adjustment window is displayed to capture the date of the G/L posting.

Quantity Discrepancy:

On exiting the tag window, if the quantity total on the Fixed Asset tags for the product does not match the current Quantity On Hand for the product, the Quantity Discrepancy warning window is triggered.

Note: The Change Asset Tag Fields utility can also be used to change asset tag information and Texada Support can exercise the Update Fixed Asset Tag utility to address depreciation and book value issues.
The Post/Import Rental Asset Revaluation can also be used to reset values on Rental Inventory.